BlackRock, the world’s largest asset manager with $12 trillion in assets under management, has secured approval from the UK’s Financial Conduct Authority (FCA) to operate as a registered crypto asset firm. This milestone allows BlackRock to expand its European Bitcoin exchange-traded product (ETP) offerings into the UK, solidifying its position as a global leader in institutional crypto adoption.
A Major Win Amid Strict FCA Regulations
The FCA is known for its stringent regulatory standards, approving only 14% of applications submitted by crypto firms. BlackRock’s successful registration makes it the 51st company to join an elite group that includes Coinbase, PayPal, and Revolut. This approval underscores BlackRock’s commitment to compliance and positions the firm to dominate the UK’s crypto market.
The move comes just days after BlackRock launched its iShares Bitcoin ETP on Euronext exchanges in Paris and Amsterdam. The product provides institutional and retail investors with regulated access to Bitcoin without the need for direct ownership. To attract early adopters, BlackRock has temporarily reduced the product’s expense ratio to 0.15% until the end of 2025, making it one of the most cost-effective Bitcoin investment options on the market.
Expanding Global Crypto Dominance
BlackRock’s entry into the UK market is part of a broader strategy to dominate global crypto markets. The firm has already seen massive success with its U.S.-based iShares Bitcoin Trust (IBIT), which launched in January 2024 and now manages over $47 billion in assets. With its FCA registration, BlackRock can now replicate this success in Europe, offering secure and regulated crypto investment products to a wider audience.
Manuela Sperandeo, BlackRock’s Head of Europe & Middle East iShares Product, described this development as a “tipping point” for the industry. She noted that retail demand for Bitcoin remains strong while professional investors are increasingly entering the space.
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